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Regulated Cypriot land-based and online betting revenue grew by 27 percent in 2018 to €89.2m, while the country’s first casino, the City of Dreams Mediterranean resort, is due to open in 2021.
On February 19, 2019, the Cyprus Securities and Exchange Commission (CySEC) launched a consultation seeking feedback on the proposed amendments to the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 (L. 188(I)/2007). Taking into consideration many queries received from market participants, the proposals aim to bring crypto asset activities under the ambit of the AML framework, transposing at the same time the provisions of the 5th Anti-Money Laundering Directive (5th AMLD) into the national legal order.